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Simon J. Evenett & L. Alan Winters | 27 Apr 2020
The recent free-for-all witnessed in trade policymaking on medical goods has had an unintended consequence—paradoxically, it may have laid the foundations for a bargain between importing and exporting nations. In this paper, Simon Evenett and Alan Winters describe the underlying commercial logic of this bargain, its elements, and their WTO compatibility. Critically, the bargain does not require global participation or endless trade talks. Done right there would be a market penalty for manufacturers in exporting nations whose governments choose to free ride on this arrangement. The paper also discusses this proposal in relation to other recent joint trade policy initiatives in this critical area of world trade.
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Click here to read the ICC United Kingdom/GCD 2023 update to the ICC/GCD 2022 Performance Guarantees Paper
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ICC International Trade & Prosperity Week took place from 17 - 20 October 2022. Read the key takeaways here
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